Shanghai expo offers new opportunities for Brazil

Brazil’s pavilion at the China International Import Expo in Shanghai on 5 November 2018Credit:
Xinhua

16 November 2018 • 12:00pm

Companies can look beyond their traditional market strongholds and find fresh business among nearly 1.4bn potential consumers in China

The China International Import Expo (CIIE) in Shanghai has opened a new phase of openness for the host nation, with the aim of strengthening multilateral trade with regions and nations across the globe while improving the role of institutions and economic and political agreements that are devoted to promote world development.

“Globalisation is irreversible,” said President Xi Jinping at the opening ceremony on 5 November 2018.

In front of country leaders, global authorities and entrepreneurs, Xi has stressed the importance of the CIIE as a trade and business platform host in China, but not only for China.

The first-ever import fair in China has been an innovative and proactive way to improve global business and promote new business models and connections. Hence institutions such as the World Trade Organisation (WTO), the United Nations Conference on Trade and Development (Unctad) and the United Nations Industrial Development Organisation (Unido) are among the supporters.

There cannot be a better host of an import exhibition than China. The country is celebrating the 40th anniversary of reform and opening up, a process that helped shift its economic structure from an agrarian nation to a global trade power. And China is now the world’s second largest economy and responsible for more than 30pc of global economic growth.

Xi’s speech was clear and objective. While addressing the challenges the global economy is facing, he emphasised the need to improve innovation and to stick to multilateralism

All those steps, including a massive urbanisation and a robust increase in people’s income, create opportunities for trade partners. As Xi has said, the service sector will be an important winner at this time. And he has highlighted the need that China has for medical and educational services – an invitation to exporters. Consumers are willing to buy world-class products. It is a market of nearly 1.4 billion people.

Xi’s speech was clear and objective. While addressing the challenges the global economy is facing, he emphasised the need to improve innovation and to stick to multilateralism to achieve a better and shared future for humankind.

He referred to multilateral organisations, such as Brics (Brazil, Russia, India, China and South Africa) and the G20, which Brazil is also part of.

For a country such as Brazil, the biggest in Latin America, the CIIE has been a precious opportunity. China has been Brazil’s biggest trading partner since 2009, creating a surplus for Latin America.

Chinese barely know Brazilian brands, partly because of the long geographical and cultural differences between the two countries.

Additionally, the business culture in Brazil relies heavily on the domestic market and its South American neighbours, and a little on the United States and the European Union. Asian markets are pretty much unexplored by the Brazilians, including China.

The CIIE could bring energy and confidence to Brazilian companies, presenting a friendly environment in face-to-face meetings with possible local partners and showing them what other countries are doing in Chinese markets.

In this sense the expo has been a huge stage and opportunity for benchmarking. Counties, associations and entrepreneurs can exchange views and experiences with each other. It is a unique chance to build connections, knowledge and new business.

And the best news, as Xi has said, is that the expo will be held every year. The future will be more and more shared.

Janaína Camara da Silveira holds a master’s in economy and is an expert on Sino-Brazilian relations, working on analysis at Radar China.

This article was originally produced and published by China Daily. View the original article at www.chinadaily.com.cn